From 7 NewsBelize
The current country manager for First Caribbean Bank Glen smith will have to handle a large part of that transition – which includes negotiating a new collective bargaining agreement with the Christian Workers Union. Today he told Monica Bodden that it is a bittersweet departure for First Caribbean:…
Glen Smith – Country Manager, FCIB
“It is one of mix feelings. We had been in Belize since 1949 and so approximately 66 years of working in the country, it gives us mix feelings to do that. However, based on the global and regional position of the bank, it wasn’t an easy decision to arrive at, but the principals having done a complete strategic review of the bank within the region arrived at this decision.”

Monica Bodden
“We have all heard about the 60 employees that will be let go. What will happen to them?”

Glen Smith
“We have treated with our employees and also with the union representative and suffice to say that the bank has always consider its employees as our most valuable asset and so we will be fair to them and I can assure that we will be in our severance package, that it will be better than minimum required under the law and so we will continue to treat with the union representative and our staff in this regard.”

Monica Bodden
“What message do you have for your customers? Can they expect the same service in terms?”

Glen Smith
“In the announcement yesterday, it should be understood that it’s still business as usual for First Caribbean. The application has been made to the regulator for approval and until that approval is received, we continue to be two separate legal entities. And so, our staff will continue to provide our customers with the best in class service that they deserve and we will continue to work with them to provide financial solutions to their problems until or whenever we receive regulatory approval. Consequence upon receiving that if it is approved, we will work with Heritage Bank to make the transition as seamless as possible and to ensure that the customers continue to provide the financial services that they require.”

“On moving over to Heritage Bank, we are confident that based on the relationship and the dialogue that is ongoing with Heritage Bank, that our customers will received similar service to what we provide them with and in those cases when they become full Heritage customers, then Heritage will handle that from their perspective.”

Monica Bodden
“Belize is losing an international bank. How will this affect the country?”

Glen Smith
“It is never easy I presume to have business leave a country. It is one that as I said in the beginning, we had to grapple with in terms of moving from a market that we have been present in for over 66-67 years and so moving on, it’s like an institution – its mix feelings, but we think that Heritage Bank taking over and looking after the customers that we will be passing to them, that it should be seamless. We think Belize as a territory is sufficient resolute to be able to make alternative arrangements and to continue business as usual.”

FIRST CARIBBEAN has closed a number of its branches in several Caribbean countries including Grenada and Barbados – but as far as we could determine – Belize is the first country they have pulled out of completely.

For more on this story go to: http://www.7newsbelize.com/sstory.php?nid=33279